Cotner continued, "This investment will further strengthen and expand our industry-leading product portfolio, while enhancing our mission to provide our global engineering customer base with deep technical expertise and support. We are excited to partner with Warburg Pincus to accelerate the company's mission and strategy. We would like to thank Genstar Capital for their close partnership with our team and for their valuable contributions and strategic insight over the years."
Genstar has been investing in industrial technology businesses since its inception. Current and former companies include Sonny's The Carwash Factory, Ohio Transmission Corporation, Clarience Technologies, BBB Industries, Tekni-Plex, Sphera, Power Products, Boyd, Pretium Packaging, Tecomet, Altra Industrial Motion, and MW Industries.
Rob Rutledge, managing director of Genstar Capital, commented, "Genstar's focus in the industrials sector is to invest in differentiated businesses in high growth end markets with multiple opportunities for value creation leveraging Genstar's expertise and capital. Since our investment in Infinite in 2016, we have supported numerous growth acceleration initiatives, including new product expansions and successfully completing six acquisitions. We are grateful for the partnership with management over the past few years and wish Penny and team best of luck in Infinite's next chapter of growth."
Warburg Pincus has been a long-time, active investor in the industrials sector, with significant experience investing in suppliers of highly-engineered components as well as distributors, including TransDigm, Extant Aerospace, Scotsman, Sundyne, CPP, Duravant, and TriMark.
"We look to partner with world-class management teams and support market-leading companies with multiple paths for growth," said Jeffrey Goldfaden, managing director, head of industrials, Warburg Pincus. "Infinite Electronics is uniquely positioned to grow both organically and through continued strategic acquisitions, with the opportunity to benefit from key secular trends including the adoption of IoT, 5G deployment, industrial automation, connected vehicles, and global data traffic growth."
"We are excited to partner with Penny and the entire Infinite Electronics team to accelerate the company's mission and strategy," added Charlie Redlick, principal, Warburg Pincus.
Baird and Jefferies LLC served as financial advisors to Infinite and Genstar, and Weil, Gotshal & Manges served as legal counsel on the transaction. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor for Warburg Pincus. For more information, visit www.warburgpincus.com.
